Institutional design and policy cooperation for decarbonization in China, Japan, and South Korea: toward a carbon-neutral society

Soocheol Lee

Chapter 4 in Handbook on Economic Growth and the Environment, 2026, pp 96-108 from Edward Elgar Publishing

Abstract: This chapter emphasizes the need for ambitious energy and climate policies to support East Asia's transition to a decarbonized society by mid-century, with a focus on Japan, China, and South Korea. Key measures include the introduction and expansion of carbon pricing mechanisms such as carbon taxes, emissions trading systems (ETS), and investment incentives for decarbonization. To explore these policies, Japan is taken as a case study, outlining the necessary decarbonization policies and systems to meet its 2050 carbon neutrality target. Their potential impact on Japan's economy, employment, and prices is also assessed. Additionally, this chapter highlights the importance of cross-border cooperation in East Asia, including the creation of a joint carbon market and a regional emissions trading system to accelerate renewable energy adoption. Finally, the establishment of an independent regional organization is proposed to lead and coordinate energy and environmental policy collaboration across East Asia.

Keywords: Decarbonization Policies; Carbon Neutrality; ETS; Regional Policy Cooperation; East Asia; Institutional Design (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035322589
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